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- Problems Brooks Co, purchases various Investments in trading securities at a cost of $74,000 on December 27, 2017. (This is its first and only
- Problems Brooks Co, purchases various Investments in trading securities at a cost of $74,000 on December 27, 2017. (This is its first and only purchase of such securities At December 31, 2017, these securities had a fair value of $80,000 1. & 3. Prepare the December 31, 2017 year-end adjusting entry for the trading securities portfolio and the January 3, 2018 entry when Brooks sets a portion of its trading securities (that had originally cost $37.000) for $38,500. if no entry is required for transaction/venu le No Journal entry required in the first account feld) View transaction list Journal entry worksheet Record the fair vale adjustment for the securities at December 31, 2017 debits before credits General Journal Credit View general journal Clear entry Record antry
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